Police uncover fake dollar operation in Ondo, arrest suspect

By Dayo Johnson, Akure The Ondo State Police Command has uncovered a suspected counterfeit dollar printing operation in Odigbo Local Government Area, arresting one suspect and recovering three bags of suspected fake United States dollar notes. The operation followed an investigation into an alleged $6,000 currency fraud involving a businessman in Okitipupa.

The police said the case began after Yusuf Nasiru, of Sabo, Okitipupa, lodged a complaint on October 28, 2026, alleging that two men, Peter Desmond and Olami Toro, both from Ode-Irele, approached him at his shop on October 25 to exchange dollars for naira. According to the complainant, he handed over $6,000, valued at about N8.6 million, to the men.

However, while waiting for the naira equivalent, the suspects allegedly returned the dollars, claiming they did not have enough money to complete the transaction, before leaving. Nasiru later discovered that the returned notes were counterfeit and reported the matter to the police. The Police Public Relations Officer, DSP Jimoh Abayomi, said operatives of the Okitipupa Division commenced an investigation following receipt of the complaint.

He said intelligence gathering and technical tracking led the operatives to one of the suspects, Peter Desmond, at Kiniso Village, via Ajue, in Odigbo LGA. “Acting on credible intelligence from community members, operatives raided the hideout on October 29, 2026, believed to be used for producing and printing counterfeit dollar notes to defraud unsuspecting members of the public,” Abayomi said.

He disclosed that one suspect was arrested during the raid, while other occupants of the premises escaped through a perimeter fence. A search of the premises, he said, led to the recovery of three bags containing suspected counterfeit US dollar notes and a small wooden box, which had been taken into police custody as exhibits. Abayomi added that the arrested suspect had provided useful information to assist the ongoing investigation.

He said the Commissioner of Police, Felix Ohagwu, had directed that the investigation be intensified to apprehend other suspects, establish the full extent of the alleged criminal network and prosecute those found culpable. The command cautioned residents against engaging in suspicious foreign currency transactions with unverified individuals or accepting seemingly attractive exchange offers outside authorised channels.

It also advised members of the public to authenticate foreign currencies before accepting them and report suspicious activities to the nearest police station. The police assured residents of their commitment to combating financial crimes and protecting lives and property across the state.